Today, Kering and L’Oréal have entered a landmark long-term strategic partnership aimed at redefining the landscape of luxury beauty and wellness. The agreement includes L’Oréal’s acquisition of the House of Creed, the transfer of Kering’s beauty and fragrance licenses for several of its iconic fashion Houses, and the creation of a new joint venture dedicated to exploring wellness and longevity opportunities.
Building on their successful collaboration with Yves Saint Laurent Beauté, the partnership brings together Kering’s portfolio of world-renowned luxury brands and L’Oréal’s global expertise in beauty. Together, the two groups aim to accelerate growth across high-potential segments and create new value in the luxury market.
Under the terms of the €4 billion agreement, Kering will have the right to sell Kering Beauté, including Creed, to L’Oréal. Known for its heritage and artisanal craftsmanship, Creed is celebrated as one of the leading names in haute parfumerie. As part of L’Oréal Luxe, Creed is expected to strengthen its global position across both men’s and women’s markets.
The deal also grants L’Oréal 50-year exclusive licenses to create, develop, and distribute fragrance and beauty products for Kering’s key fashion Houses — Gucci, Bottega Veneta, and Balenciaga — following the expiration of Gucci’s current license with Coty. A strategic committee will oversee the coordination between the two companies and ensure smooth execution of their shared vision.
In addition to beauty, Kering and L’Oréal will jointly establish a 50/50 venture dedicated to the fast-growing wellness and longevity sectors, combining L’Oréal’s research and innovation capabilities with Kering’s deep understanding of luxury clientele to craft next-generation experiences and services.
“This strategic alliance marks a decisive step for Kering,” said Luca de Meo, CEO of Kering. “By joining forces with the global leader in beauty, we will unlock the full potential of our brands in fragrance and cosmetics while venturing into new frontiers of wellness.”
Nicolas Hieronimus, CEO of L’Oréal Groupe, added: “This partnership solidifies our position as the world’s number one luxury beauty company and opens exciting new avenues in wellness. The addition of Creed, along with Gucci, Bottega Veneta, and Balenciaga, perfectly complements our portfolio and strengthens our leadership in luxury beauty.”
The transaction, valued at €4 billion and payable in cash at closing, is expected to be finalized in the first half of 2026, subject to regulatory approvals and other customary conditions.
